Being one of the main two economical branches (macroeconomics is the second one), microeconomics studies individual or household behavior when it comes to making decisions and allocating of resources. Microeconomics and macroeconomics are so closely related that you can really understand one of them if you didn’t wrap your head around both. As a rule of thumb, you can apply microeconomics rules for markets of goods and services. You can always sell microeconomics textbooks to us for most money. We provide convenient textbook buyback with free shipping.
Microeconomics studies factors that influence people’s decision making from an economical standpoint. For example, if prices go up, what happens to consumer demand? Or how will a consumer respond to an interest rate drop (start saving less or more, why exactly he will respond that way). Also, it handles how those decisions make an impact on the price, formation of demand and supply.
The main focus of microeconomics is interacting (for example decision making) between specific sellers and buyers. It also studies economical patterns, demand and price determination in specifically defined markets. As opposed to macroeconomics, microeconomics takes into account the small picture with an emphasis on basic theories of demand and supply.
Though microeconomics is all about economics on a smaller scale, people who learn it are supposed to read a whole lot of material on the topic and that’s exactly how the demand for microeconomics textbooks is created.